Syria and Yemen are included in the list of target markets along with Iraq that the CEO thinks, once stabilized, can provide good opportunities. The company has not yet made any sales to Iraq but the executive believes that it's a good market for rebar, wire rod and sections in the construction sector.

As for any recent drop-off in construction activity in the UAE, he believes the government will look to boost the sector. "I don't think the government will stop investing," Remeithi said, adding that governments in Dubai and Abu Dhabi, in particular, have been proactive in encouraging more private investment, foreign ownership in projects and investment.

"We are very competitive; we have shipped our products all around the world. And we are very resilient," said Al Remeithi. "There is always demand for steel and we have had a fantastic year," he added. He believes that the start of 2019 will be tough for some market participants depending on market confidence, countries and their products, but it is a cycle and will bounce back.

As for the demand over the last one year, he did not observe a lot of change. He added that rebar demand for the GCC region is around 3.7 million mt which has stayed consistent.

However, wire rods and sections might have seen a little dip because of lower oil prices.

Over the next one year, he expects a consistent demand for rebar and sections, while adding "if there are any issues, we have alternative markets."

While the UAE remains an open steel market, more can be done to aid domestic steelmakers, he said while talking about the lack of protective measures in the UAE market.

"We need some help, but not [trade] protection because the UAE is an open market and we understand that," Remeithi said. "At the same time, we need some support so that we are operating on an even playing field. That's all that we are trying to do." He added that UAE is a fair market and we should not mix asking for protectionism with making policies that will help the companies operate on an equal footing.

As for the US Section 232 tariffs, the company has not faced any direct impact because US has been a relatively smaller market for the company, the CEO added.

Emirates Steel also announced Sunday that it has finalized a loan refinancing deal that will help it accelerate deleveraging, increase financial flexibility, and fund its growth plans.